producer, aims to more than triple its earnings in the sector to an
estimated RM170 billion by 2020.
The commodity contributed RM49.5 billion in export earnings in 2009 or 7.5 per cent of the country’s gross domestic product.
Plantation Industries and Commodities Minister Tan Sri Bernard Dompok
said out of the RM170 billion, the upstream, downstream and biodiesel
expansion is expected to provide new business opportunities estimated at
RM74.6 billion by 2020.
“The government has accorded this
industry as the country’s second most important sector after oil and gas
under the 12 National Key Economic Areas.
“So, we will
continue to provide the necessary enabling framework including
investments in the necessary infrastructure and supporting facilities
such as ports, bulking installations and research and development
facilities,” Dompok said in his speech in Kuala Lumpur yesterday during
the 2010 Palm Oil Industry Award dinner.